Singapore competes with Hong Kong for wealth management

Singapore is looking to overtake Hong Kong as the capital of international fund management. With $1.1 trillion in assets, up 13% from last year, Singapore is closing the gap against Hong Kong, which managed about $1.6 trillion last year. Singapore is becoming increasingly attractive to wealthy investors who wish to take advantage of favorable regulatory laws no longer available in such European countries as Switzerland.

Hong Kong faces questions about its long-term stability and its relationship with its Chinese governors. However, its advantage over Singapore is the amount of qualified wealth managers, as Singapore is struggling to train and attract investment professionals. This year, there was a 6.5% growth in trained fund managers, and the numbers are expected to grow as Singapore tries to become a destination for wealthy investors from across the globe.

Singapore is looking to overtake Hong Kong as the capital of international fund management. With $1.1 trillion in assets, up 13% from last year, Singapore is closing the gap against Hong Kong, which managed about $1.6 trillion last year. Singapore is becoming increasingly attractive to wealthy investors who wish to take advantage of favorable regulatory laws no longer available in such European countries as Switzerland.

Hong Kong faces questions about its long-term stability and its relationship with its Chinese governors. However, its advantage over Singapore is the amount of qualified wealth managers, as Singapore is struggling to train and attract investment professionals. This year, there was a 6.5% growth in trained fund managers, and the numbers are expected to grow as Singapore tries to become a destination for wealthy investors from across the globe.